* Asian shares ex-Japan down for 4th straight session
* Rising bond yields see fund outflows from equities -
analyst
By Syed Saif Hussain Naqvi
Aug 2 (Reuters) - Most Southeast Asian stock markets ended
lower on Thursday, in line with broader Asia, as escalating
trade tensions between the United States and China dampened risk
appetite across the globe.
Asian shares ex-Japan dropped 1.6 percent
after the U.S. on Wednesday stepped up pressure on China by
proposing a higher 25 percent tariff on $200 billion worth of
Chinese imports.
U.S. bond yields rose overnight, with the benchmark 10-year
yields breaking above 3 percent to 2-1/2-month highs after the
Treasury said it would boost borrowing in the bond market in the
coming quarter.
"Higher yields on U.S. bonds, Japanese bonds or even bills
will be seen as negative for emerging markets, at least in the
short term, with funds flowing towards alternative asset
classes," said Charles William Ang, associate analyst at COL
Financial Group Inc.
Singapore shares, down 1.3 percent, were the biggest
losers in the region, dragged by financials.
Shares of DBS Group Holdings fell as much as 3
percent on Thursday after Southeast Asia's biggest lender
reported a second-quarter profit below analysts' expectations.
Philippine shares fell one percent, led by
industrials.
"Philippine markets have rallied over the last several
weeks, mainly because of cheap valuations at the time, and that
has led to profit-taking," Charles added.
SM Investments Corp and Ayala Land Inc
weighed the most on the benchmark index.
Thai shares dropped over one percent with energy
stocks leading the losses.
Shares of PTT Public Company Limited, down by
nearly a percent, were the biggest drag on the index after oil
prices inched lower on Thursday.
Vietnam shares ended marginally higher with gains in
utilities outweighing losses in consumer staples.
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SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous Pct Move
close
Singapore 3286.32 3329.01 -1.28
Bangkok 1708.28 1722.01 -0.80
Manila 7759.55 7838.22 -1.00
Jakarta 6011.723 6033.419 -0.36
Kuala Lumpur 1778.13 1788.31 -0.57
Ho Chi Minh 953.55 952.77 0.08
Change on year
Market Current End prev Pct Move
yr
Singapore 3286.32 3402.92 -3.43
Bangkok 1708.28 1753.71 -2.59
Manila 7759.55 8558.42 -9.33
Jakarta 6011.723 6355.654 -5.41
Kuala Lumpur 1778.13 1796.81 -1.04
Ho Chi Minh 953.55 984.24 -3.12
(Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Vyas Mohan)